ALL TIME REAL ESTATE SALES VOLUME RECORD
Last month was the highest selling March on record for the Metro Vancouver & Fraser Valley housing markets. Residential sales in the Vancouver area totalled 5,173 home in March 2016 an increase of 27.4% from the recorded home sales of 4,060 recorded in March 2015. The Fraser Valley region recorded the highest sale volume ever where the increase was 62% greater than the sales of March 2015.
The Market overall is still very competitive, fast moving and continues to favour Sellers. If listed home are priced correctly, they have been receiving Multiple offers where numerous Buyers bid on the same property and have been reported to sell well above their listed prices. A recent sale in the Vancouver Westside "Dunbar Area" sold for 1 Million above the List Price! As the prices continue to soar in the Vancouver area, the outlying suburb areas continue to experience record sales growth.
The supply of Active Listings for sale in the Metro Vancouver area is down 40% from the same period last year. This current low inventory, combined with strong job and economic growth in BC with low interest rates continues to fuel the market along with foreign investors purchasing.
Recent Sale Hot Spots with Price Increases from March 2015
The current market is still considered a "Sellers Market" where the home Buyer demand is high and the Home seller supply is low.
If you are thinking of Selling it is an ideal time, especially now when inventory levels are low. It is also important to always price your home sharply & competitively to obtain its maximum value!
If you require any real assistance in Selling or Buying please do not hesitate to contact me...
CALL ME I'M HOLM
604-328-2500 | eric.holm@century 21.ca
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